All time high UK GBP gold price once again.

[silvergaga]

Could go through £1600 today, no problem.

Edited March 15, 2023 by silvergaga
improve heading

[KleinerVogel]

Yeah, you know gold is going up fast when BullionByPost start charging £426.20 for a gold sov 😂

 

Does the surge in price have anything to do with the recent bank problems that have been hitting the news?

[harrygill111]

Course the price has gone up, just when I was going to place an order! 

 

[KleinerVogel]

3 minutes ago, harrygill111 said:

Course the price has gone up, just when I was going to place an order! 

 

Always the way. 😤🙂

[silvergaga]

Now £1611 wow, this could go to £2000. Must be a wee bit of a problem somewhere.

 

Maybe a Central Bank next.

[sovereignsteve]

Cue lots of gold for sale on the forum, but who can spot the high before the inevitable fall?

[bluemoon]

Forgive me for being the miserable sod in the room but I don't actually care about new highs, only insofar that it's protecting the purchasing power of what we have. We won't get rich with these ATHs, we can play with bitcoin if we want to do that.

That said, I am happy that I'm up on my purchases over the years. Rather bummed that this spike has happened now just as I was preparing to do some more buying. We can't have everything I guess. Will wait a bit.

Edited March 15, 2023 by bluemoon

[Midasfrog]

19 hours ago, bluemoon said:

Forgive me for being the miserable sod in the room but I don't actually care about new highs, only insofar that it's protecting the purchasing power of what we have. We won't get rich with these ATHs, we can play with bitcoin if we want to do that.

That said, I am happy that I'm up on my purchases over the years. Rather bummed that this spike has happened now just as I was preparing to do some more buying. We can't have everything I guess. Will wait a bit.

It's a good time to buy and sell proof coins when spot is at silly levels. They don't appear so over priced and when selling you might get a quicker sale and a good price 👍

[MonkeysUncle]

On 15/03/2023 at 15:20, harrygill111 said:

Course the price has gone up, just when I was going to place an order! 

 

Don't worry, it'll crash back down when I let the moths escape from my wallet!

[MonkeysUncle]

I seriously think gold is going into a steep climb over the coming days: there are several US banks that failure is apparently imminent and I have visions of the Swiss Government having to nationalise Credit Suisse, possibly as soon as this weekend.

[SheepStacker]

It's just beautiful.

[Richiesilver]

£1630 per ounce? Meh, call me when it's £1630 per SOV 😀

Edited March 17, 2023 by Richiesilver

[BOOLIAN]

3 hours ago, Richiesilver said:

£1630 per ounce? Meh, call me when it's £1630 per SOV 😀

At this rate, expect the call in about a month 🙃

[Bogart]

Is it me or am I losing the plot but I always thought the spot price varied even over a weekend? Been rock solid since Friday.

[Skyfiller]

@James32 vacuum cleaner blew a fuze and he told them to pause spot while he got it repaired. That’s the power of high rollers 🤑

[Bogart]

Knew there must be a reason.

[MonkeysUncle]

On a serious note - not that James inoperable vacuum isn't serious - I suspect lots of deep breaths and not much exhaling has gone on due to the Credit Suisse collapse. Smells of the Swiss Government nicely asking/ bribing UBS in the same way the British Government had Lloyds rescue HBOS.

If it completes tonight as is looking likely then I expect stock markets up a bit in Europe and gold down a bit.

Although we'll have to see what US bank wobbling comes in the next week or so...

[Zeuk]

If the Fed hold or decrease rates mid week the banks may stabilise and the markets may start to see money going in but that wont help US inflation so gold still looks reasonable, if they raise them to tackle inflation people will be rightly nervous about banks so gold seems reasonable.  Its going to be a while before i put any money into anything other than metals, but keeping cash ready to go into an stocks and shares ISA should things stabilise.

Either way i think in the shortest term gold may pull back a bit just because of short term profit takers but i think there are further highs to come.  For it not to be i think we have to see the war in ukraine solved, inflation solved, interest rates sustainable, big tech doing well, sentiment turning positive ... thats a lot to improve but if it does it presents opportunity.

Edit - even short term traders need to trust where they are holding their cash though ... so who knows, odd times.

Edited March 19, 2023 by Zeuk

[Bogart]

For it not to be i think we have to see the war in ukraine solved, inflation solved, interest rates sustainable and the one you forgot

 

The Conservatives out 👍👍👍

[MonkeysUncle]

1 hour ago, Bogart said:

For it not to be i think we have to see the war in ukraine solved, inflation solved, interest rates sustainable and the one you forgot

 

The Conservatives out 👍👍👍

That's a certainty unless Starmer comes out as a transgendered communist sexually fluid Russian Orthodox hippopotamus!

And even then...